Parks purchase Overland Hotel | RecordCourier.com

Parks purchase Overland Hotel

Staff Reports

The historic Overland Hotel has been purchased by the Park Family.

Members of the Park family have purchased the Overland Hotel and are seeking a liquor license to operate the Gardnerville landmark.

The purchase agreement between majority owner Elvira Ceñoz and Park Livestock Co. was approved after a May 14 court order.

Complicating the sale was that more than a third share of the restaurant was owned by relatives in Spain, who were not contributing to support the business.

The Parks paid $850,000 for the restaurant, much of which went to settle the mortgage, interest and fees.

At the hearing, District Judge Tod Young ruled that the Spanish relatives won't receive any of the sale proceeds.

The Parks set up a new company to operate the property called Ranch Loan Trio owned by Bruce, David and Jon Park.

Recommended Stories For You

County commissioners are scheduled to hear the Parks' application for a liquor license at their Thursday meeting in Stateline.

Go back to article